Coinbase Derivatives’ two US perpetual-style futures contracts to begin trading on July 21

The Block

2025-06-26 23:53:07

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After noting plans to eventually launch perpetual-style futures trading in the United States, Coinbase Derivatives, the derivatives-focused arm of the crypto exchange Coinbase, officially set its launch date for July 21.

Two contracts set to arrive on that date include the nano Bitcoin Perpetual-Style Futures at 0.01 BTC and nano Ether Perpetual-Style Futures at 0.10 ETH. These contracts have 5-year expirations with 24/7 trading hours, and will "closely" track spot markets on the firm's regulated platform, Coinbase wrote in a Thursday release.

"Today, some US-based traders access perpetual futures through offshore exchanges, an approach that introduces regulatory, custody, and counterparty risks," Head of Coinbase Derivatives Exchange Boris Ilyevsky said in the release. "Our new US Perpetual-Style Futures contracts eliminate the need for offshore workarounds, offering traders a domestic, regulated alternative with the same utility: simplified contract expirations, capital efficient trading, long-term strategy execution, and risk management."

On May 8, Coinbase agreed to acquire the crypto derivatives exchange Deribit for $2.9 billion. One day later, Coinbase Derivatives launched 24/7 Bitcoin and Ethereum futures trading with future, undated plans to add perpetual-style futures in the United States at the time, The Block previously reported.

The volume of both Bitcoin and Ethereum futures trading reached $1.96 trillion and $1.7 trillion, respectively, in May, The Block's Data Dashboard shows. What's more, Ethereum futures brought in the second-highest Ethereum futures trading volume in May behind its all-time high of $1.87 trillion in May 2021.

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